Willis Lease Finance Corporation announced on September 27, 2024, that it entered into a Series A Preferred Stock Purchase Agreement with the Development Bank of Japan Inc. This agreement refinances WLFC’s existing $50 million of aggregate Series A-1 and Series A-2 preferred stock.
The new arrangement consolidates these into one $65 million preferred stock series with a seven-year term, bearing an annual rate of 8.35% per share. This transaction provides WLFC with incremental equity, which is intended to support the continued growth of its business operations.
Chief Financial Officer Scott B. Flaherty stated that the expansion of this investment is a result of a strong, long-term relationship between the two organizations. The additional capital enhances WLFC's financial flexibility for future strategic initiatives.
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